STRENGTHENING FINANCIAL INTEGRITY: ANALYZING SEBI’S AML AND CFT GUIDELINES FOR SECURITIES MARKET INTERMEDIARIES

AUTHOR – SACHIN K S, STUDENT AT CHRIST (DEEMED TO BE UNIVERSITY), BENGALURU

BEST CITATION – SACHIN K S, STRENGTHENING FINANCIAL INTEGRITY: ANALYZING SEBI’S AML AND CFT GUIDELINES FOR SECURITIES MARKET INTERMEDIARIES, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 536-540, APIS – 3920 – 0001 & ISSN – 2583-2344.

INTRODUCTION

The financial integrity of markets is crucial for economic stability and growth. In this context, the Securities and Exchange Board of India (SEBI) plays a vital role in enforcing measures to combat money laundering (ML) and terrorist financing (TF). The Prevention of Money Laundering Act, 2002 (PMLA), and the associated rules provide a robust framework for these efforts. The latest guidelines issued by SEBI elaborate on the responsibilities of securities market intermediaries in adhering to AML and CFT standards through a Master Circular dated 06th June 2024.^[1]

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[1] Master Circular No. SEBI/HO/MIRSD/MIRSDSECFATF/P/CIR/2024/78; Dated: 06.06.2024 : https://www.sebi.gov.in/legal/master-circulars/jun-2024/guidelines-on-anti-money-laundering-aml-standards-and-combating-the-financing-of-terrorism-cft-obligations-of-securities-market-intermediaries-under-the-prevention-of-money-laundering-act-2002-a-_83942.html